When buying or selling real estate, you may find it helpful to have a real estate agent assist you. Real estate agents can provide many useful services and work with you in different ways. In some real estate transactions, the agents work for the seller. In others, the seller and buyer may each have agents. And sometimes the same agents work for both the buyer and the seller. It is important for you to know whether an agent is working for you as your agent or simply working with you while acting as an agent of the other party.
But it can be a confusing world in property sale because there are many different kinds of intricacy that just go straight over the layman’s head. Things like interest rates, mortgage rates and the property market in general are all things that we not only don’t need but most of the time don’t care about, until of course you want to sell your home!
So in this article, let’s take a look at a few different kinds of property agents and how they can help you.
If you are selling any kind of property, the chances are that you may want to “list” your property for sale with an estate agent. If so, you will sign a “listing contract”, approving the firm and its agents to represent you in your communications with customers as your seller’s agent. You may also be asked to allow agents from other companies to help find a buyer for your property. Be sure to read and comprehend the listing contract before you sign it. If you don’t you can leave yourself open to a whole world of problems and issues with commissions and payments further down the line which is not something you want when selling your home.
Once you have signed the listing contract, the firm and its mediators may not give any personal information about you to potential buyers or their agents without your permission so long as they represent you. But until you sign the listing contract, you should avoid telling the listing agent anything you would not want a buyer to know! Their main responsibilities revolve around keeping you abreast of ongoing developments with the sale of your home but also to provide you with sound strategy and honest opinion on the home and the offers and interest that you are receiving
When buying real estate, you may have numerous selections as to how you want a real estate firm and its proxies to work with you. For instance, you may want them to represent only you. You may be willing for them to represent both you and the seller at the same time. Or you may decide to let them represent only the seller. Some agents will offer you a choice of these services. Others may not. It depends on your own personal proclivities and in general how trusting of a person are you to let the same person work for both sides, also there is the factor of how much you trust that individual agent and the company he represents to give you a fair deal and to work for both sides of the fence and get the best deal but only for himself.
Once you have decided (either orally or in writing) for the firm and its mediators to be your buyer’s agent, they may not give any intimate information about you to sellers or their negotiators without your consent so long as they represent you. But until you make this arrangement with your buyer’s agent, you should avoid telling the agent anything you would not want a seller to know, there are any different things that your buyer’s agent should be doing on your behalf in order to get the best deal on your new property. With a buyer’s agent, you really want to not only be able to trust their integrity but also the work that they are doing behind the scenes where you cannot directly control any of it. So to give you an example of what you should be looking for in a trustworthy buyers agent that would be somebody who knows the local area well and is willing to go to great lengths to find you the perfect home for you budget and make all of this part a breeze.